Marmota hopes to punch through the ceiling of a high-grade system at Goolagong – geology willing

Gold explorer Marmota Limited (ASX:MEU) has announced it’s kicked off drilling at Goolagong on the hunt for the yellow metal.

The company, sniffing after a potential discovery, will sink 15 holes on-site in what is effectively a follow-up drill run based on a target of interest struck in April.

The company will mobilise the rig from Goolagong to its main projects at Aurora Tank and Campfire Bore once this campaign wraps up.

The hole of interest struck in April was tapped with an aircore rig and drilled to 38m until refusal.

The final two metres of that 38m intercept returned low grades of gold – leaving geotechs hopeful they could be about to punch through the roof of a high-grade system. Assays will determine that.

MEU last traded at 4.5cps.